A Systematic Approach is Essential for the Effective and Efficient Management of Companies : A Part from The Book Chapter : Exploring the Influence of Corporate Governance Characteristics on Integrated Reporting

In the realm of corporate governance, a systematic approach is essential for the effective and efficient management of companies. The board of directors, acting on behalf of shareholders, plays a pivotal role in the directed and controlled governance of these entities. Under the purview of the Company Act No. 07 of 2007, the board holds the responsibility of upholding good corporate governance practices. In this context, it becomes imperative for boards to seek and adopt best practices to ensure overall success in managing companies.

Boards with a substantial representation of independent directors tend to prioritize accountability and disclosure, aligning with the principles of IR. The diversity of the board, including gender diversity, enhances perspectives and encourages a broader consideration of both financial and non-financial factors in reporting practices. Moreover, a board’s understanding of the long-term value of sustainable practices aligns with the emphasis of IR on comprehensive reporting that encompasses the social, environmental, and governance aspects of a company’s performance. In essence, a board’s composition and commitment shape the corporate culture that either facilitates or hinders the adoption of IR.

Author(s) Details:

Vickneswaran Anojan,
Department of Accounting, Faculty of Management Studies and Commerce, University of Jaffna, Sri Lanka.

To Read the Complete Chapter See Here

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